News

Glomac Partners Tnb To Explore Solar, Green Energy Facilities Business



KUALA LUMPUR, April 17 (Bernama) -- Glomac Bhd’s 51 per cent owned subsidiary, Glomac Technology Sdn Bhd, has inked an agreement with Tenaga Nasional Bhd to explore potential business opportunities in solar and green energy facilities.

In a filing with Bursa Malaysia, Glomac said a memorandum of understanding (MoU)was signed today (April 17, 2023) and would remain effective for 24 months from the date of signing.

“However, if the parties decided to extend the agreement in writing by mutual agreement or earlier terminated in writing by any party in accordance with the provisions of the MoU,” it said.

Glomac said the MoU would not have any effect on the share capital and substantial shareholders’ shareholdings of Glomac and was not expected to have any material and immediate effect on the earnings, net assets and gearing of Glomac Group for the financial year ending April 30, 2023.

-- BERNAMA





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